Pressure Switch Market Anticipated 5.1% CAGR by 2034

The pressure switch market is growing hand in hand with HVAC systems. HVAC systems make prominent use of pressure switches and the increasing adoption of these systems is aiding the cause of the pressure switch market. The pressure switch industry is benefitting with the increasing sales of products like air conditioners and heaters.

The pressure switch market is expected to be valued at USD 2.1 billion in 2024. The market is expected to progress at a CAGR of 5.1% from 2024 to 2034. By 2034, the market value is forecasted to hit USD 3.5 billion.

However, the industry has to contend with challenges even on its positive trajectory. The price of the product is a concern for several industry units, especially those on the smaller scale. The switches being prone to fail under adverse conditions is another restraint to the market’s growth.

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Competition Analysis of the Pressure Switch Market

Funds are being funneled into research and development to come up with innovative products, taking the help of technology. Collaborative strategies, along with mergers and acquisitions, are being practiced by market players.  Some of the prominent companies in the market include Hitachi Power ABB Grids, Eaton, Parker Hannifin Corp., and Barksdale Inc.

Recent Developments 

• In August 2023, WIKA Instruments introduced the WIKA PSD-4 pressure switch.
• In January 2022, Royal Power Options’ takeover by Eaton was completed.

Key Companies in the Pressure Switch Market

• Hitachi Power ABB Grids
• Eaton
• Parker Hannifin Corp.
• Barksdale Inc.
• BD|SENSORS GmbH
• Tameson B.V
• LEFOO
• Emerson
• Danfoss
• SMC Corporation
• Fox S.r.l.
• MAMCO
• Nason

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Market Segmentation

By Type:

• Electromechanical
• Solid-State

By Application:

• HVAC
• Monitoring & Control
• Safety and Alarm Systems
• Hydraulics & Pneumatics

By Pressure Range:

• Below 100 bars
• 100 – 400 bars
• Above 400 bars

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)